Cyprus is an European island country in the Eastern Mediterranean Sea. It is the third largest island in Mediterranean Sea and one of the most popular tourist, business, education and retirement destination. The island lies between Europe, Africa and Asia which makes it a natural hub for business and trade.

Full adoption of the EU Directive on Mutual Assistance and Cooperation;

Full adoption of EU Royalty and Interest Directive;

More than 60 Avoidance of Double Tax Treaty.

VAT: Cyprus introduced VAT in 1992 by Law 246/90, which is based on the British VAT Legislation of 1983, adjusted to be consistent with the characteristics of the Cypriot economy.
​VAT is imposed in any:

transaction that takes place in Cyprus (the place where the goods are located when there are delivered to the client;

when it is taxable transaction that is made by a person in the context of promoting /continuing its business;

VAT returns must be submitted quarterly and the payment of the VAT must be made by the 10th day of the second month that follows the month in which the tax period ends.

Disposal of immovable Cyprus property where the application of building permission has been submitted prior to the 1st of May 2004;

Postal and insurance services;

Management services provided to Cyprus funds.

ABOUT US

Michalis Tsitsekkos & Associates LLC is a general law firm that handles litigation in all areas of the law. We also specialize in Corporate services to domestic and international clients. Our experience, professional competence and education allows us to provide our clients with the whole range of services that might be requested by them.